Home / Knowledge / News / Fashion / Palmers Textil to buy Warnaco Lejaby Business
Palmers Textil to buy Warnaco Lejaby Business
15
Feb '08
The Warnaco Group Inc announced that it has entered into an agreement to sell its Lejaby business to Palmers Textil AG for approximately €32.5 million (approximately $47 million) in cash and €12.5 million (approximately $18 million) in an interest free note due December 31, 2013.

Terms of the transaction include a customary working capital adjustment and the provision of temporary transition services to Palmers Textil AG.

The Company notes that the sale of Lejaby is subject to customary closing conditions and expects the sale to be concluded during the first quarter of fiscal 2008.

Commenting on the transaction, Helen McCluskey, Warnaco's Group President of Intimate Apparel and Swimwear stated, “We would like to thank the Lejaby team for its contributions over the years.

Under Palmer's ownership, Lejaby will continue to be operated from Lyon, providing continuity to its core employees. In the future, we believe that, under Palmer's ownership, Lejaby will benefit from new opportunities.

Today's announcement completes the strategic realignment we announced in November, including the Company's exit from all owned manufacturing.

We believe Warnaco is now well positioned to focus our efforts on our brands and businesses with the greatest long-term potential for Warnaco and its stakeholders.”

“We are thrilled by the acquisition of the Lejaby business. We believe adding Lejaby, an iconic and well established brand,to our portfolio will surely enhance our future growth opportunities,” commented Thomas Weber, CEO of Palmers Textil AG.

The Warnaco Group Inc


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search